Indications are the Cowboys won’t use the franchise tag on Anthony Spencer before the day is done, but a final decision has not been made.

Club officials are meeting this morning to discuss how to proceed. While owner Jerry Jones has commented publicly that he doesn’t know if the team is willing to pay Spencer what he could make on the free agent market, a source said that “nothing definitive” has been determined.

The Cowboys have until 3 this afternoon to decide whether or not it will use the franchise tag on the linebacker for a second consecutive season. The move would cost the Cowboys $10.63 million and force the club to shave another $5-plus million off its cap to accomodate the decision.

The Cowboys can maneuver to keep Spencer, but it will severely limit the club’s ability to compete in the upcoming free agent market. Even if the club does not tag Spencer, they will not have the financial flexibility to be a major player in free agency.